Summary
- It was reported that a large amount of Bitcoin and Ethereum was transferred from Binance’s hot wallet.
- Regarding the hot wallet transfers, some have expressed suspicions of artificial selling to liquidate long (buy) positions.
- Analyst Rekt Fencer claimed these moves constitute market manipulation.
A large amount of Bitcoin (BTC) and Ethereum (ETH) was found to have been transferred from Binance’s hot wallet.
On the 25th (local time), the cryptocurrency analyst Tracer stated on X (formerly Twitter): "Binance and Coinbase transferred a large amount of Bitcoin and Ethereum from their hot wallets."
Some have raised suspicions that these transfers might be attempts to artificially sell off assets to liquidate long (buy) positions. Analyst Rekt Fencer claimed, "Binance is dumping Bitcoin and Ethereum in order to liquidate long positions" and asserted, "This is clearly market manipulation."
Son Min
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